Developer selling Toronto’s Trump Hotel

The billionaire developer of the Trump International Hotel & Tower in Toronto is trying to sell it. Alex Shnaider, the Russian-Canadian investor behind developer Talon International Development Corp., began talks with his lender, Raiffeisen Bank International AG, to dispose of the 65-storey luxury tower and the associated loan he has with the bank of about US$300 million. The Trump Organization, led by U.S. presidential candidate Donald Trump, licensed its name to the property and is its management firm.